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SBA Administrator Guzman Testifies on Agency Priorities and FY 25 Budget Justification During Committee Hearing

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Washington, DC – Today, Small Business Administration (SBA) Administrator Isabel Guzman testified before the House Small Business Committee on agency priorities and the agency’s FY 2025 budget justification during a full committee oversight hearing. During the hearing, Ranking Member Nydia M. Velázquez (D-NY) highlighted small businesses' progress under the Biden administration, examined the agenc...

Committee Report Outlines Impact of Artificial Intelligence on Small Content Creators

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Washington, DC— Today, House Small Business Committee Ranking Member Nydia M. Velázquez (D-NY) released a report exploring the impact of the increasing popularity of generative artificial intelligence (GenAI) on America’s small content creators. GenAI threatens the livelihoods of small creators, given the technology’s ability to generate content faster and cheaper than creative professionals and t...

Ranking Member Velázquez on February Jobs Report

| Posted in Press Releases

Washington, D.C. – Today, Rep. Nydia M. Velázquez (D-NY), Ranking Member of the House Small Business Committee, issued the following statement after the Labor Department released its February jobs report showing that nonfarm payroll employment increased by 275,000: “Last night, President Biden detailed our country’s incredible economic progress under his leadership. The February jobs report adds f...

Velázquez Introduces Bill to Launch Student Loan Debt Forgiveness Program for Entrepreneurs

| Posted in Press Releases

Washington, D.C.— Today, House Small Business Committee Ranking Member Nydia M. Velázquez (D-NY) introduced a bill to establish a student loan debt forgiveness and deferment program for entrepreneurs. The Supporting America’s Young Entrepreneurs Act of 2024 seeks to lower one of the most prominent barriers to starting a business, outstanding student loan debt. “Today, debt is weighing down young p...

House Passes Eight Bipartisan Small Business Bills

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Washington, DC - Today, the House passed eight bipartisan small business bills, including legislation to boost contracting opportunities for women-owned small businesses, protect the integrity of the Women-owned Small Business (WOSB) federal contracting program, and codify the Office of Native American Affairs at the Small Business Administration. H.R. 7105, The WOSB Certification and Opportunity ...

Ranking Member Velázquez Emphasizes Importance of Environmental Protection for Small Businesses During Committee Hearing

| Posted in Press Releases

Washington D.C.— Today, the House Small Business Committee held a hearing examining the impact of Environmental Protection Agency (EPA) regulations on American small businesses. During the hearing, Ranking Member Nydia M. Velázquez (D-NY) discussed the ability of EPA rules to both strengthen environmental safeguards and promote economic growth. “Smart, well-crafted regulations can spur innovation ...

Velázquez Examines Impact of SBA Size Standards on Small Firms

| Posted in Press Releases

Washington D.C.— Today, the House Small Business Committee held a hearing examining Small Business Administration (SBA) size standards and their impact on small businesses. During the hearing, Ranking Member Nydia M. Velázquez (D-NY) highlighted the need for Congress to carefully evaluate and implement changes to size standards to avoid unintended consequences for small firms. “This committee has ...

Statement of the Hon. Nydia M. Velazquez on Under the Microscope: Reviewing the SBA’s Small Business Size Standards

| Posted in Statements

Thank you, Mr. Chairman. And thank you to our witnesses for traveling here today. The demands on a small business owner’s time are already immense. I appreciate that you are using some of your valuable time to help this committee address these important issues. How the Small Business Administration defines “small” can have an enormous impact on the success of an individual small business, as well ...

Ranking Member Velázquez on January Jobs Report

| Posted in Press Releases

Washington, D.C.— Today, Rep. Nydia M. Velázquez (D-NY), Ranking Member of the House Small Business Committee, issued the following statement after the Labor Department released its January jobs report showing that nonfarm payroll employment increased by 353,000: “The January jobs report is just further evidence that our nation’s economic recovery from COVID is leading the world. Under President B...

Ranking Member Velázquez Applauds SBA Release of Minority Contracting Statistics

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Washington, D.C.— Today, Congresswoman Nydia M. Velázquez (D-NY), Ranking Member of the House Small Business Committee, applauded the Small Business Administration’s (SBA) release of federal contracting data disaggregated by race. “Federal contracting programs are intended to level the playing field for small businesses, with some specifically designed to provide assistance for minority-business ...

Ranking Member Velázquez Applauds Committee Passage of Nine Bipartisan Small Business Bills

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Washington, DC - Today, the House Small Business Committee passed nine bipartisan small business bills to increase opportunities for small firms in government contracting, support Native American entrepreneurs, support independent childcare businesses, and fight fraud in Small Business Administration (SBA) programs. “The bills passed today make important improvements to the contracting programs at...

Statement of the Hon. Morgan McGarvey on Pathways to Success: Supporting Entrepreneurs and Employees with Disabilities

| Posted in Statements

Thank you, Mr. Chairman, for holding this important hearing. Every American deserves the opportunity to take a chance on themselves and contribute to society as productive entrepreneurs. This is the fundamental promise of the American Dream: that any person in this country can work hard, take risks, and be hopefully find success. Yet, Americans with disabilities, like other underprivileged groups,...

Statement of the Hon. Nydia Velazquez on Unleashing Main Street's Potential: Examining Avenues to Capital Access

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Thank you, Mr. Chairman. As both Chair and Ranking Member of this committee, ensuring small businesses have access to credit and investment opportunities has always been one of my top priorities. Under the leadership of President Biden, small business growth has proved resilient. Since he took office, 16 million Americans have filed to start new businesses, the strongest stretch on record. But whi...

Statement of the Hon. Nydia Velazquez on Crime on the Rise: How Lawlessness is Impacting Main Street America

| Posted in Statements

Thank you, Mr. Chairman. There is no doubt that small businesses are often the victims of crime all across the country. Whether it is small retailers being victims of shoplifting, the local restaurant traumatized by hate crimes, or the countless businesses on the frontlines of our nation’s devastating gun violence epidemic, the impact of crime on small firms can take many forms. These acts can tak...

Ranking Member Velázquez on December Jobs Report

| Posted in Press Releases

Washington, D.C.— Today, Rep. Nydia M. Velázquez (D-NY), Ranking Member of the House Small Business Committee, issued the following statement after the Labor Department released its December jobs report showing that nonfarm payroll employment increased by 216,000: “2023 was a great year for American workers as the December jobs report brings the total number of jobs created last year to 2.7 millio...

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